TRENDS, NETWORKS, AND CRITICAL THinking in the 21st Century Module 4: Globalization

GLOBALIZATION
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 INTRODUCTION
Globalization is the unrestricted allocation and relocation of services, goods and
capital from different zones across nations. Integration and deals best describe
globalization and it offers prosperity and peace. Globalization is geared towards
localization and promotes a free capitalist market. Thus, it becomes a constant
process where market economies have expanded throughout the world. While
some think that globalization is translated to internet business, trade network,
schools and communities where people transport 24 time zones and into the
wireless world others also believe the integration of technology and free trade may
cause income gaps, migration for better jobs, being controlled by unknown market
dynamism.

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 A manufacturer assembling a
product for a distant market, a
country submitting to
international law, and a
language adopting a foreign
loanword.

Globalization | Examples, Impact, & Pros and Cons -

Encyclopedia Britannica

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 Globalization is not new, though. For thousands of years, people—
and, later, corporations—have been buying from and selling to each
other in lands at great distances, such as through the famed Silk
Road across Central Asia that connected China and Europe during
the Middle Ages. Likewise, for centuries, people and corporations
have invested in enterprises in other countries. In fact, many of the
features of the current wave of globalization are similar to those
prevailing before the outbreak of the First World War in 1914.
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 Technology has been the other principal driver of globalization. Advances
information technology, in particular, have dramatically transformed
economic life. Information technologies have given all sorts of individual
economic actors—consumers, investors, businesses—valuable new tools
for identifying and pursuing economic opportunities, including faster and
more informed analyses of economic trends around the world, easy
transfers of assets, and collaboration with far-flung partners.

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 Globalization is deeply controversial, however. Proponents of globalization
argue that it allows poor countries and their citizens to develop
economically and raise their standards of living, while opponents of
globalization claim that the creation of an unfettered international free
market has benefited multinational corporations in the Western world at the
expense of local enterprises, local cultures, and common people.
Resistance to globalization has therefore taken shape both at a popular and
at a governmental level as people and governments try to manage the flow
of capital, labor, goods, and ideas that constitute the current wave of
globalization.

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 DEFINING GLOBALIZATION

There is no exact and common definition for the

term “Globalization.” In fact, when defining the term,
it is necessary to look into the dimension or
perspective one has to highlight. To illustrate the
comprehensive definition, here are some the
notable authorities who tried to define the term.

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 1. Globalization is a social process in which the constraints of geography on
social and cultural arrangements recede and in which people become increasingly
aware that they are receding (MalcomWaters).

2. Globalization is gearing towards global unification, global homogenization

and states’ relation to an economic world –system. This involves the emergence
of third cultures, such as international law, the financial markets and media
conglomerates, as elements which transcend the boundaries of the nation –state.
(Mike Feathersome).

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 3. Globalization has insurmountable impact on social and economic matters
especially on the issue of sustainability that has reached the mainstream. The
dichotomous concern is on the forces whether the globalization ultimately
contributing to growth and opportunity – or to destruction and chaos. (Dreher,
Gaston and Martens)

4. Globalization is the global network which welded together previously

disparate communities on this planet into mutual dependence and a unit of single
world.
(Emmanuel Richter)

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 5. Globalization refers to all these processes by which the nations of the world are
conscripted in a single world society – global society. (Martin Albrow)

6. Globalization could be defined as the intensification of the social relations all

over the world, that link such in a manner the far off localities, so as the events
which
take place are looked by the angle of similar others, happened to many miles far
away and upside down
( Anthony Giddens)

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 7. A global technological market transforms the financial world, that of the affairs,
that political and the psychology, making them unrecognizable. (Hans
Blommestein)

8. The influence of globalization upon democracy seems to replace the

dictatorship of the national elites, with the dictatorship of the international
finance
(Joseph Stiglitz).

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 9. Globalization is seen as an interconnection sustained by technology between
political, economic, cultural world events has – in this last space – an
hybridization effect of cultures kept, renewed and the development of the cultural
identities (John Gray)

10. It is assumed that the world economy scores two parallel processes: globalization and decentralization. As
for the former it is said that it consists of transnationalization up to over nationalizing, especially in the fields
of trade, finances and top technologies. As for the latter, decentralization consists of delivering by the national
government to the local communities of more administrative, social educational, budgetary functions, and
consequently, the role of the national state will limit to diplomacy, army, and the enactment of the internal
legislation. (World Bank).

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 THANK YOU!

BY DIWA, CHRISTINE E. & CULATON, JESTER DAVE